eToro reported robust first-quarter 2026 earnings, exceeding analyst estimates amid a sharp surge in commodities trading. The trading and investing platform saw net contribution rise 19% year-over-year to $258 million, while adjusted earnings per share reached $0.91, well above the forecasted $0.73. GAAP net income climbed 37% to $82 million, and adjusted EBITDA increased 35% to $109 million. The results were propelled by a nearly fourfold jump in commodities trading volumes, which accounted for approximately 60% of trading commissions in the quarter. In contrast, crypto trading activity remained under pressure, with total crypto trades declining 32% year-over-year in April, and the invested amount per crypto trade dropping 22%.
CEO Yoni Assia hailed the performance as the company's strongest as a public entity, crediting product innovation such as the launch of 24/7 trading for select commodities, equities, and indices, as well as the introduction of AI-powered Agent Portfolios. The company also expanded its US crypto footprint by launching crypto trading in New York after activating required licenses. The acquisition of self-custodial wallet provider Zengo, finalized on April 30, 2026, is expected to bridge traditional finance with on-chain infrastructure. Funded accounts grew 12% year-over-year to 4.02 million, and assets under administration rose 15% to $17 billion. Preliminary April data showed continued momentum in traditional assets, with assets under administration hitting $18.7 billion and funded accounts reaching 4.07 million, but crypto trading remained a weak spot.
